Asked by
victoria checo
on Nov 26, 2024
Verified
Which of the following will not shift the demand curve for labor?
A) the use of a larger stock of capital with the labor force
B) a change in the wage rate
C) an increase in the price of the product that labor is helping to produce
D) the adoption of a more efficient method of combining labor and capital in the production process
Wage Rate
The price of labor per unit of time, typically expressed as an amount of money paid per hour or year.
Efficient Method
An approach or technique that achieves a desired outcome with the least amount of waste, effort, or expense.
- Depict the influence of technological progress and changes in product demand on employment patterns.
- Explain the concept of derived demand in the context of labor and capital markets.
Verified Answer
MT
Learning Objectives
- Depict the influence of technological progress and changes in product demand on employment patterns.
- Explain the concept of derived demand in the context of labor and capital markets.